Panama Canal contract addendum signed

The international consortium building a wider set of locks for the Panama Canal said it signed an agreement late Thursday with the Panama Canal Authority to ensure completion of the mega-infrastructure project considered critical to global trade, ending a three-month billing dispute that could have led to significant construction delays. The official signing took longer than expected to complete. The Panama Canal Authority (ACP) and the consortium, Grupo Unidos por el Canal (GUPC), announced a tentative agreement on a path forward on Feb. 28 and Canal Administrator Jorge Quijano said the final agreement would be closed on March 6. Under the agreement, ACP will advance another $100 million to GUPC (which is also co...